Multiple ABC's

[Philby]

Can anybody give me some guidance ( or a reference), on why I see multiple ABC's on my chart - According to the GET manual you should see and ABC corrective wave after a 5 wave has completed.

Refer to the attached graph.

[MR]

Typically you will see multiple A-B-C's when a market is in a "complex correction" phase. Two ways of better attempting to define that complex wave sequence is to (1) go one or two time frames higher and observe that wave count-- ie, the higher time frame might, for example, verify the complex correct by labeling it a Wave 4 in progress; or (2) go to a lower time frame where you will observe the internal breakdown of the A-B-C's more clearly. For example, A and C waves are typically some sort of a 5 wave sequence and the shorter time frame should be able to breakdown that internal data sequence more clearly. It isn't a critical thing, but the cross referencing to a higher or lower time frame it can help you better interpret the data if you have questions. Another thing is to observe the oscillators to see if or when they cross zero, as that also determines the end of whatever sequence it is labeled.

[mattsb]

Philby,

Marc gave great advice for cross-referencing timeframes. My 2 cents worth is to find Frost and Prechter's book on Elliott Wave. It's still the bible for starting your study of Elliott Wave.

Cheers, Matt

[Philby]

Marc & Matt,

Thanks - I have recently purchased Frost and Prechter's book on Elliott Wave and have strated to plough through it.

The chart in the original posting was a weekly time frame - I was looking for a pattern to exploit then aiming to go down to daily to find my entry and stop positions.

The attached chart is stepping up to the monthly time frame - from Marc's comments would I be right in suggesting that the monthly chart shows the pricing action as an extended wave 5 ( the congestion or sideways movement) and that I should apply the alternate Oscillator to assist with identfying the end of the Wave 5 or breakout position?